Standard Chartered Bank Pakistan Limited

Sources of Funds:

The main sources of funds for standard chartered are the deposits that customers make with the bank . in order to obtain more funds the bank must attract more and more customers and be able to cater to the needs of a wide range of customers . standard charter offers a wide variety of accounts to its customers .

The accounts can be divided into two main categories

Savings accounts Current accounts

Saving accounts

Standard chartered offers a wide array of savings accouns to its customers. With a minimum account balance required and profits calculated on a monthly and quarterly basis the savings accounts are very attractive to households and small businesses and employees. The bank offers supersaver accounts, high yeild accounts, mahana izafa accounts etc .

Current accounts

Along with saving accounts standard chartered offers a wide range of current accounts to its customers such as saholat account, rupee account, xtra mile account, foreign currency account,sahulat online account which enables the customers to bank 24x7 and maintain their accounts in which ever currency they want. These accounts are non profit bearing accounts but offers like 10% saving on every refuel, bank anywhere, and minimum required balances make these accounts attractive to customers .

Islamic banking accounts

Standard chartered also offers standard chartered SADDIQE account to those customers who prefer islamic banking over conventional banking .

Along with accounts the bank raises its funds by term deposits and saving certificates and mahana amadani certificates whose matuirty is 3 years and offer a 10% interest the profits are automatically credited to the customers account and the customr can access the profits using an atm or debiit card anywhere andy time .the bank also offers its customers to invest in mutual funds like JS investment, atlas asset management etc to earn a return on their investment .

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Uses of Funds

The funds raised by the bank are put to use by the bank in order to earn profits . the bank makes use of the funds in the following forms

Loans & Mortgages Insurances

Loans

The bank provides easy, swift and flexible loans to households on lower markups and other facilities. Standard chartered offers loans upto 85 % of the collatoral and the interest is charged only for the amount of loan utilized and the number of days kept.

The bank also offers home mortgages for buying of house and also provide home loans and car financing facilities.Owners of small bussinesses make use of the loans to boost up their businesses.

Insurances

Standard chartered also offers insurance to their customers wether they want to secure the future of their loved ones or give their child the education they want , standard chartered has the answer to every question. It offers secure life plan, iqra education plan , taleem, rishtey ec insurances.

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